Bangladesh’s banks’ excess liquidity decreases slightly

Bangladesh Taka. BBN file photo

Dhaka, Bangladesh (BBN) – The Bangladesh Taka (BDT) depreciated five paisa more against the US dollar Tuesday evening following higher demand for the greenback in the inter-bank foreign exchange market.

The exchange rate of the BDT against the US dollar was quoted at maximum BDT 81.15 at the evening transactions today.

In the opening trading today, the exchange rate of the local currency against the American currency was quoted at maximum BDT 81.10 same as the previous working level.

“The local currency depreciated five paisa further against the US dollar due to higher demand for the greenback in the market for settlement of import-payment obligations mainly for food grains and petroleum products,” a senior treasury official of a leading private commercial bank told the BBN in Dhaka Tuesday evening.

On Monday evening, the exchange rate of the local currency was quoted at maximum BDT 81.10, climbing five paisa more from the previous working level.

On Sunday, it was quoted at maximum BDT 81.05, raising five paisa more from the previous working day.

On November 8, the exchange rate of the BDT against the US dollar was quoted at maximum BDT 81.00 at the evening transactions.

In the opening trading on November 8, the exchange rate of the local currency against the American currency was quoted at maximum BDT 80.95 same as the previous working level.

On November 7, the exchange rate of the BDT against the US dollar was quoted at maximum BDT 80.95, that means it increased three paisa more from the previous working level.

On November 6, the exchange rate of the local currency against the US dollar was quoted at maximum BDT 80.92.

From October 31 to November 6, the rate was fixed at BDT 80.90.

On October 30 evening trading, the exchange rate of the BDT against the US dollar was quoted at maximum BDT 80.86 – BDT 80.87.

From October 22 evening to October 30 morning, the exchange rate was quoted at maximum BDT 80.85.

On October 19, the exchange rate of the BDT against the US dollar was quoted at maximum BDT 80.83.

Earlier from September 24 to October 16, the local currency remained static that means it was quoted at maximum BDT 80.80.

Bangladesh’s foreign exchange market remained closed on Friday and Saturday as those were weekend in the country.

BBN/SS/AD